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The IS-LM Model and the Liquidity Trap Concept: from Hicks to Krugman

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  • Mauro Boianovsky

    (UNB)

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  • Mauro Boianovsky, 2003. "The IS-LM Model and the Liquidity Trap Concept: from Hicks to Krugman," Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31st Brazilian Economics Meeting] a13, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    • Handle: RePEc:anp:en2003:a13
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    1. Jean-Paul Fitoussi, 1983. "Modern macroeconomic theory," SciencePo Working papers Main hal-03393109, HAL.
    2. Uhlig, Harald, 2000. "Should We Be Afraid of Friedman's Rule?," Journal of the Japanese and International Economies, Elsevier, vol. 14(4), pages 261-303, December.
    3. Krugman, Paul, 2000. "Thinking About the Liquidity Trap," Journal of the Japanese and International Economies, Elsevier, vol. 14(4), pages 221-237, December.
    4. Svensson, Lars-E-O, 2001. "The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 19(S1), pages 277-312, February.
    5. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2002. "Avoiding Liquidity Traps," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 535-563, June.
    6. Hicks, J. R., 1979. "Critical Essays in Monetary Theory," OUP Catalogue, Oxford University Press, number 9780198284239.
    7. Uhlig, H.F.H.V.S., 2000. "Should we be Afraid of Friedman's Rule?," Other publications TiSEM 75057545-86e1-4482-b63d-c, Tilburg University, School of Economics and Management.
    8. J. A. Kregel, 2000. "Krugman on the liquidity trap: why inflation won't bring recovery in Japan," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 1(1), pages 39-58, January-J.
    9. Mauro Boianovsky, 2005. "Some Cambridge reactions to The General Theory: David Champernowne and Joan Robinson on full employment," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(1), pages 73-98, January.
    10. Peter N. Ireland, 2001. "The Real Balance Effect," Boston College Working Papers in Economics 491, Boston College Department of Economics.
    11. McCallum, Bennett T & Nelson, Edward, 1999. "An Optimizing IS-LM Specification for Monetary Policy and Business Cycle Analysis," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 31(3), pages 296-316, August.
    12. Hicks, John R, 1979. "On Coddington's Interpretation: A Reply," Journal of Economic Literature, American Economic Association, vol. 17(3), pages 989-995, September.
    13. D. G. Champernowne, 1936. "Unemployment, Basic and Monetary: the Classical Analysis and the Keynesian," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 3(3), pages 201-216.
    14. Laidler,David, 1999. "Fabricating the Keynesian Revolution," Cambridge Books, Cambridge University Press, number 9780521641739.
    15. Paul R. Krugman, 1998. "It's Baaack: Japan's Slump and the Return of the Liquidity Trap," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 137-206.
    16. Hicks, John R, 1969. "Automatists, Hawtreyans, and Keynesians," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(3), pages 307-317, August.
    17. Bennett T. McCallum, 2000. "Theoretical analysis regarding a zero lower bound on nominal interest rates," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, pages 870-935.
    18. Ronald I. McKinnon & Kenichi Ohno, 1997. "Dollar and Yen: Resolving Economic Conflict between the United States and Japan," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262133350, December.
    19. Jeffrey C. Fuhrer & Brian F. Madigan, 1997. "Monetary Policy When Interest Rates Are Bounded At Zero," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 573-585, November.
    20. Krugman, Paul, 2000. "How Complicated Does the Model Have to Be?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 16(4), pages 33-42, Winter.
    21. repec:cto:journl:v:21:y:2002:i:3:p:481-490 is not listed on IDEAS
    22. Alan Rabin & Ziad Keilany, 1986. "A Note on the Incompatibility of the Pigou Effect and a Liquidity Trap," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 9(2), pages 291-296, December.
    23. Nicholas Kaldor, 1939. "Speculation and Economic Stability," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 7(1), pages 1-27.
    24. David H. Romer, 2000. "Keynesian Macroeconomics without the LM Curve," Journal of Economic Perspectives, American Economic Association, vol. 14(2), pages 149-169, Spring.
    25. Kenneth N. Kuttner & Adam S. Posen, 2001. "The Great Recession: Lessons for Macroeconomic Policy from Japan," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 32(2), pages 93-186.
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    1. What’s So General about the General Theory?
      by Jonathan Finegold in Economic Thought on 2013-05-08 20:23:44

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    Cited by:

    1. João Braz Pinto & João Sousa Andrade, 2015. "A Monetary Analysis of the Liquidity Trap," GEMF Working Papers 2015-06, GEMF, Faculty of Economics, University of Coimbra.
    2. Michaël Assous & Roberto Lampa, 2014. "Lange's 1938 model: dynamics and the "optimum propensity to consume"," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 21(5), pages 871-898, October.
    3. Daniel Kuehn, 2011. "A critique of Powell, Woods, and Murphy on the 1920–1921 depression," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(3), pages 273-291, September.
    4. repec:kap:iaecre:v:17:y:2011:i:1:p:12-27 is not listed on IDEAS
    5. Belongia, Michael T. & Ireland, Peter N., 2017. "Circumventing the zero lower bound with monetary policy rules based on money," Journal of Macroeconomics, Elsevier, vol. 54(PA), pages 42-58.
    6. Koppány, Krisztián, 2007. "Likviditási csapda és deflációs spirál egy inflációs célt követő modellben - a hitelesség szerepe [A liquidity trap and deflationary spiral in a model for pursuing an inflation target - the role of," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 974-1003.
    7. Barens, Ingo, 2011. "To use the words of Keynes...": Olivier J. Blanchard on Keynes and the "Liquidity Trap," Darmstadt Discussion Papers in Economics 208, Darmstadt University of Technology, Department of Law and Economics.
    8. Rodney Strachan & Herman K. van Dijk, "undated". "Bayesian Model Averaging in Vector Autoregressive Processes with an Investigation of Stability of the US Great Ratios and Risk of a Liquidity Trap in the USA, UK and Japan," MRG Discussion Paper Series 1407, School of Economics, University of Queensland, Australia.
    9. Tibor Tatay & Zsanett Orlovits & Zsuzsanna Novák, 2022. "Inhomogeneous Financial Markets in a Low Interest Rate Environment—A Cluster Analysis of Eurozone Economies," Risks, MDPI, vol. 10(10), pages 1-22, October.
    10. Roger J. Sandilands, 2010. "Hawtreyan ‘Credit Deadlock’ or Keynesian ‘Liquidity Trap’? Lessons for Japan from the Great Depression," Palgrave Macmillan Books, in: Robert Leeson (ed.), David Laidler’s Contributions to Economics, chapter 15, pages 335-371, Palgrave Macmillan.
    11. Stefano Di Bucchianico, 2018. "A Note on Krugman's Liquidity Trap," UMASS Amherst Economics Working Papers 2018-17, University of Massachusetts Amherst, Department of Economics.
    12. Manfred Gärtner & Florian Jung, 2011. "The Macroeconomics of Financial Crises: How Risk Premiums and Liquidity Traps Affect Policy Options," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 17(1), pages 12-27, February.
    13. João Braz Pinto & João Sousa Andrade, 2019. "A Monetary Analysis of the Liquidity Trap with an Application to the USA," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 13(4), December.
    14. Alexandre Flávio Silva Andrada, 2011. "Uma Breve História Sobre A Abordagem Dedesequilíbrio Na Economia," Anais do XXXVIII Encontro Nacional de Economia [Proceedings of the 38th Brazilian Economics Meeting] 233, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    15. Mauro Boianovsky & Hans-Michael Trautwein, 2004. "HABERLER, THE LEAGUE OF NATIONS, AND THE SEARCH FOR CONSENSUS IN BUSINESS CYCLE THEORY IN THE 1930s," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32nd Brazilian Economics Meeting] 002, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    16. João Braz Pinto & João Sousa Andrade, 2015. "A Monetary Analysis of the Liquidity Trap," GEMF Working Papers 2015-06, GEMF, Faculty of Economics, University of Coimbra.
    17. Claudia Heller, 2007. "Hicks, A Teoria Geral e A Teoria Geral Generalizada," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 8(3), pages 401-436.
    18. Boianovsky, Mauro & Presley, John R., 2009. "The Robertson connection between the natural rates of interest and unemployment," Structural Change and Economic Dynamics, Elsevier, vol. 20(2), pages 136-150, June.
    19. Manfred Gärtner & Florian Jung, 2009. "The macroeconomics of financial crises: How risk premiums, liquidity traps and perfect traps affect policy options," University of St. Gallen Department of Economics working paper series 2009 2009-15, Department of Economics, University of St. Gallen.

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